How To Find a Niche Market in 3 Simple Steps

Finding a niche market is the starting point of your business whether you are marketing offline or online. Nevertheless, there are tons of people who never get past this point, because they end up getting frustrated and quitting.

Here are 3 simple steps that I use to find a niche market.

1. Make a List - First start with a list of things that you are passionate about, skilled at, or have experience and/or knowledge with. Think about all of the skills you have learned in school, at a job, or in life.

Also think about the things you spend a lot of time doing, or the stuff that you spend a lot of money on buying. Realize that you are not the only person obsessed with these things. That means that these could be very fun and profitable niches for you to get into.

It is to best to start with your interests, because you will stay motivated to build your business even though some of your business tasks may become mundane and boring at times.

Try to come up with 5-10 different words and phrases on your list.

2. Keyword Research- Keywords are the words that people put into the search engines to find stuff on the internet. Keyword research does not have to be a tedius job. When research your keywords you want to look at two things:

Demand and Competition

a. Demand- If there is not enough demand for some of the words that you came up with to describe your interests, then it is probably a waste of time trying to build a business around those particular words.

You might find that people are looking for the same things on your list, only worded differently. This is why the importance of choosing the right keywords in the beginning can not be over stated.

A free tool that you can use to gauge the demand for your keywords is the Google Adwords Keyword Tool. Simply type the words or phrases from your list into the search box one at a time. This tool will pull up a list of words and phrases that are related to your primary keyword.

Make a list of the words that both accurately describe your interests, and have anywhere from 1,000 to 50,000 global monthly searches.

b. Competition- If there is a lot of competition in a particular niche then that is a sign that there is money being made in that niche.

Use Google search to analyze your competition. Type your chosen keywords into the search bar. Keep only the keywords that have less than 500,000 competing websites.

Also look to see how many ads show up in the "Sponsored Links" sections at the top and the right hand side of the page. If you see a lot of ads then that is sign that there is money being made in that niche.

3. Find out what type of products are being sold- You can do this by doing a search for your keyword in auction sites like eBay and Amazon.

Also look at the top websites that show up in the search engine and find out what they are selling. If you find that there are a lot of products being sold for a certain keyword then you have found yourself a profitable niche.

Much Success,